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2019 (10) TMI 387

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..... 18 (Assessment Year : 2012-13) - Dated:- 5-8-2019 - SHRI R.S. SYAL, VP AND SHRI PARTHA SARATHI CHAUDHURY, JM Assessee by: Shri Makarand Revenue by: Shri O.A. Mao, CIT ORDER PER PARTHA SARATHI CHAUDHURY, JM : This appeal preferred by the Revenue emanates from the order of the Ld. CIT(Appeals)-7, Pune dated 21.06.2018 for the assessment year 2012-13 as per the following grounds of appeal on record: .....

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..... an amount of ₹ 2,25,49,347/- into P & L account has been provided for warranty provisions. That on identical facts and circumstances, the Ld. CIT(Appeals) observed that in assessee s own case for assessment year 2010-11, the issue was decided in favour of the assessee. 4. That further, at the time of hearing, the Ld. AR of the assessee appraised the Bench that for assessment year 2010-11 .....

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..... on. For the sake of completeness, the data relating to the financial years 2009-10 to 2012-13 furnished by the assessee is extracted in para 1.3 of the order of the CIT(A), which reads as under :- Particulars Financial Year 2009-10 2010-11 2011-12 2012-13 Opening balance 7,500,000 7,500,000 19,593,249 42,142,596 Addition Utilisation 15,888,819 41,305,567 (18,756,220) 103,707,585 (41,429,042) Closi .....

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..... in particular year actual warranty claim may exceed the provisions which is made. Assessee was therefore, entitle deduction in respect of provisions for warranty claims. The appellant has relied on Kirloskar Borthers Ltd. (supra) wherein provision for warranty were fully allowed. The crux of these judicial pronouncements are that provisions for warranty are full allowable. The only thing is that t .....

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